Volvo Cars sold some 503,000 cars over the period to net 6.6 billion SEK (779 million U.S. dollars) in operating income compared to 2.1 billion SEK (248 million U.S. dollars) in 2014, the company said in its yearly earnings report.

wpid-volvo2.jpg“I am pleased to report that 2015 was a year of record sales and trebled profits,” CEO Hakan Samuelsson said in a statement.

The group’s net earnings reached 16 billion SEK (1.89 billion U.S. dollars) after totalling 9.5 billion SEK (1.12 billion U.S. dollars) in 2014.

Volvo’s annual revenue shot up to 164 billion SEK, a 19-percent increase year on year.

“Now, with a successful 2015 behind us, Volvo Cars will enter the next phase of its global transformation. Once completed, Volvo will be a truly global premium car company,” Samuelsson said.

As part of the company’s transition, Volvo on Thursday uncovered its V90 estate model in Stockholm, equipped with semi-assisted drive technology and integration with Apple’s in-car controller and entertainment service Carplay.

Last year was the first in which Volvo sold more than 500,000 cars, with the carmaker aiming to bring annual sales to 800,000 units “in the medium term.”

Volvo Cars, acquired by Chinese automaker Geely in 2010, employs 29,000 people globally. (1 U.S. dollar=8.48 SEK) Enditem

Source: Xinhua


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